Good Morning, Traders!…👋

Stock futures pointed to further gains on Monday, buoyed by news of President-elect Donald Trump selecting Wall Street veteran Scott Bessent to lead the Treasury Department. Investors are optimistic about Bessent’s nomination, as the hedge fund manager is expected to back Trump’s plans to hike tariffs and cut taxes while also encouraging fiscal discipline to tackle the growing U.S. deficit.

In commodities, oil prices slipped as traders assessed the potential impact of conflicts in Ukraine and the Middle East on global supply. Brent crude, the international benchmark, fell 0.9% to $73.97 per barrel, while West Texas Intermediate (WTI) dropped 0.9% to $70.59 per barrel.

Meanwhile, bond yields edged lower over the weekend. The yield on the benchmark 10-year U.S. Treasury note settled at 4.34%, while the 2-year note yield was slightly higher at 4.36%.

In individual stocks, Super Micro Computer extended last week’s impressive rally, Snowflake received an upgrade, and MicroStrategy hinted at a potential new Bitcoin acquisition. Keep an eye on these movers as the market kicks off another eventful week.

Happening Today

✓ 01:00 PM ET – 2-Year Note Auction

PREMARKET SNAPSHOT 📈

Market futures are showing solid gains, with the S&P 500 up 0.50%, the Dow rising 0.70%, and the NASDAQ gaining 0.56%.

SECTOR SNAPSHOT✨

Yesterday, most sectors showed positive gains, with Consumer Discretionary, Consumer Staples, and Industrials leading the way, rising by 1.18%, 1.02%, and 1.36%, respectively. Financials also saw a solid gain of 1.11%, while Materials and Real Estate increased by 0.55% and 0.84%. Energy and Health Care posted modest gains, up 0.11% and 0.08%. However, Information Technology, Communication Services, and Utilities ended the day in the red, down by 0.22%, 0.69%, and 0.66%, respectively. Despite some sectors underperforming, the overall market showed a generally positive trend.

PreMarket Unusual Volume Stocks

📈 Wearable Devices Ltd (WLDS) experienced a significant surge in its stock price, climbing 82.45% to close at $3.43. The company traded over 8.3 million shares, a notable increase from its average volume of 79K. This dramatic rise indicates heightened investor interest and optimism about the wearable tech industry.

📈 Elong Power Holding Ltd (ELPW) posted a modest 0.42% gain, closing at $2.39. The trading volume stood at 1.3 million shares, surpassing its average of 86K. This steady performance suggests consistent investor engagement in the energy solutions sector.

📈 QMMM Holdings Ltd (QMMM) saw an impressive 57.35% increase in its stock price, reaching $1.18. The company traded over 16.8 million shares, significantly exceeding its average of 1.4 million. This surge reflects strong market enthusiasm and potential positive developments.

📈 SmartKem Inc (SMTK) recorded a 4.69% rise, closing at $3.35. The trading volume was 269K shares, slightly above its average of 24K. This steady climb highlights growing interest in the company's flexible electronics and semiconductor technologies.

📈 Mobix Labs Inc (MOBX) experienced an 11.39% gain, with its stock price closing at $0.82. The trading volume reached over 1.1 million shares, surpassing its average of 163K. This increase signals positive sentiment and attention in the wireless connectivity market.

Premarket Picks

KULR Technology Group, Inc. (KULR) saw a pre-market price of $0.58, with a surge of 32.03%. The increase followed the company's announcement of developing proprietary carbon fiber-designed custom cathodes for small modular reactors (SMRs) for a prominent nuclear fusion company.

Palladyne AI Corp. (PDYN) reached a pre-market price of $5.50, up by 19.57%. This rise came after the company revealed an expanded partnership with Red Cat Holdings, Inc. (RCAT) and its Teal Drones subsidiary to enhance its technological capabilities.

Quantum Corporation (QMCO) saw its pre-market price climb to $10.72, a surge of 17.42%. The increase was driven by announcing the next generation of its DXi9000 series, designed to provide greater cyber resilience across the Edge, the Core, and the Cloud.

Quantum Computing Inc. (QUBT) rose to a pre-market price of $6.80, up 11.48%. The gain followed the company's announcement that it had received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin.

Below is a complete list of hot stocks in pre-market today:

Top Upgrades:

1. Sally Beauty Holdings, Inc. (SBH)

Analyst Firm: D Cowen
Upgrade: Hold to Buy
Price Target: $16
Friday's Close: $12.97

D Cowen analyst Oliver Chen upgraded Sally Beauty Holdings to "Buy" from "Hold," raising the price target to $16 from the previous $14. Sally Beauty Holdings, Inc., a global leader in professional hair color and beauty supply, operates through its Sally Beauty Supply and Beauty Systems Group divisions.

These businesses provide a wide range of products tailored to both professionals and consumers. Analyst price targets for SBH range from a high of $17.00 to a low of $12.00, with a median of $14.00 and an average target of $14.20.

2. The Procter & Gamble Company (PG)

Analyst Firm: DA Davidson
Upgrade: Neutral to Buy
Price Target: $209
Friday's Close: $176.28

DA Davidson upgraded Procter & Gamble to "Buy" from "Neutral," increasing the price target significantly to $209 from $160.

Procter & Gamble, a multinational leader in consumer goods, boasts an impressive portfolio of globally recognized brands, including Always®, Ariel®, Bounty®, Charmin®, Crest®, Gillette®, Pampers®, and Tide®. Operating in nearly 70 countries, the company remains a dominant force in the global consumer goods market.

Analysts have forecasted a price target range for P&G with a high of $200.00, a median of $182.00, and a low of $160.00, averaging $180.40.

3. U.S. Bancorp (USB)

Analyst Firm: Citi
Upgrade: Neutral to Buy
Price Target: $65
Friday's Close: $52.49

Citi analyst upgraded U.S. Bancorp to "Buy" from "Neutral," raising the price target to $65 from $49. U.S.

Bancorp, the parent company of U.S. Bank National Association, employs over 70,000 professionals and reported $686 billion in assets as of September 30, 2024. As a leading financial institution, U.S. Bancorp continues to play a pivotal role in the sector.

Analysts have projected a price target range for the company with a high of $66.00, a median of $53.00, and a low of $49.00. The average price target stands at $54.13.

Happy investing,

Maeve Grace
Editor In Chief
Premium Stock Alerts

Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.